Patriot Financial Group Insurance Agency LLC Trims Stock Position in Carrier Global Co. (NYSE:CARR)

Patriot Financial Group Insurance Agency LLC trimmed its position in Carrier Global Co. (NYSE:CARR) by 7.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,665 shares of the company’s stock after selling 564 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Carrier Global were worth $536,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CARR. Olistico Wealth LLC purchased a new position in shares of Carrier Global in the 2nd quarter worth about $25,000. Meeder Asset Management Inc. raised its holdings in shares of Carrier Global by 675.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares during the period. EdgeRock Capital LLC purchased a new position in shares of Carrier Global in the 2nd quarter worth about $32,000. Hantz Financial Services Inc. acquired a new stake in shares of Carrier Global in the second quarter valued at about $35,000. Finally, McClarren Financial Advisors Inc. grew its stake in shares of Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after buying an additional 310 shares in the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Price Performance

Shares of NYSE CARR opened at $74.60 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80. The business has a 50 day moving average price of $76.72 and a two-hundred day moving average price of $68.28. Carrier Global Co. has a fifty-two week low of $46.77 and a fifty-two week high of $83.32. The firm has a market cap of $67.35 billion, a PE ratio of 52.17, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32.

Carrier Global declared that its board has approved a share repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 4.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Carrier Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, October 25th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Friday, October 25th. Carrier Global’s dividend payout ratio is presently 53.15%.

Insiders Place Their Bets

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the transaction, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 6.95% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CARR shares. Barclays lowered their target price on Carrier Global from $90.00 to $89.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Stephens lowered their target price on Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday. Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Wells Fargo & Company lowered their target price on Carrier Global from $82.00 to $76.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Finally, Royal Bank of Canada lowered their target price on Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Carrier Global currently has an average rating of “Moderate Buy” and an average target price of $81.33.

Carrier Global Company Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.